FINRA began the assessment by seeking public comment in Regulatory Notice 19-06 on the effectiveness and efficiency of the rule.įINRA initiated a retrospective review of Rule 3110 (Supervision) to assess its effectiveness and efficiency. The rule was adopted after the events of September 11, 2001, to help ensure that member firms would be able to continue their business operations in the event of such disruptions.
#RETROSPECTIVE BACKUP UPDATE#
Rule 4370 requires a member firm to create, maintain, annually review and update upon any material change a written business continuity plan identifying procedures relating to an emergency or significant business disruption. The following rules are being reviewed as part of our retrospective review program.įINRA is conducting a retrospective review of Rule 4370 (Business Continuity Plans and Emergency Contact Information), FINRA’s emergency preparedness rule. Jonathan Sokobin, FINRA Chief Economist, Remarks from FINRA Unscripted Podcast, November 6, 2017 “There’s a discipline to asking certain kinds of questions when you are going to do a regulatory intervention…Getting in the practice of asking those questions makes us a better regulator.”
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